Dubai has become one of the top 10 destinations in the world in terms of travel and tourism for those coming for leisure, business or shopping purposes, according to Genesis Consulting ME.
The Middle East business planning and marketing services provider released its findings as part of its latest report on the Emirate's hospitality industry, which also predicts that Dubai is set to receive 15 million tourists a year by 2015. This increase in visitor numbers will become the main driver for growth for the destination as it looks to build upon a recorded occupancy rate of 80% in 2012, with an average daily rate of AED 1030.54 (US $280.58) which was 0.9 percentage point and 8.4% higher respectively than the same period during 2011.
Genesis Consulting ME director of business development Bahaa Fatairy said: “The travel and tourism industry has established itself as a key important pillar for the economic growth within the UAE and Dubai in particular. It is the magnet to attract leisure, business and shopping visitors and is the ideal link between the West and East.”
The Genesis report goes on to describe how Dubai is continuing to attract demand from a wide range of segments, with the leisure market remaining the leading sector, contributing over 40% of occupancy of the total room nights in hotels, however, with business demand increasing due to the improvement in business sentiment across the region. Dubai has also become the preferred MICE destination in the region, hosting large international and regional events, including Arab Health, World Economic Forum and the Dubai Airshow.
Moreover, the reports from Ernst & Young and TRI Hospitality Consulting highlighted that Dubai hotels were steady for the first seven months of last year when compared with the same period in 2011. In terms of revenue, hotels in Dubai recorded a 10.3% increase in revenue.